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Trial balance

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aclc college
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Types of Trial Balance
1. Trial Balance of balances
2. Trial Balance of totals
Trial balance of balances contains accounts with open balances.
Accounts with open balances either have a debit balance or a credit
balance.
Trial balance of totals the totals of the debits and the totals of the
credit of each account are listed.
Procedure in Trial Balance Preparation
o Write the heading of the trial balance.
It includes the following.
a. The name of the business or the owner
b. Title of the list or Trial Balance
c. Date of the Trial Balance
o Provide a column for the accounts and two money columns a
debit and a credit.
o The account should be written in just one column arranged in the
following sequence.
a. Assets
b. Liabilities
c. Capital
d. Income
e. Expenses
o Write the amounts opposite the corresponding accounts under
the debit money column if the account is a debit balance and
under the credit money column if the account is a credit balance.

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Types of Trial Balance 1. Trial Balance of balances 2. Trial Balance of totals Trial balance of balances – contains accounts with open balances. Accounts with open balances either have a debit balance or a credit balance. Trial balance of totals – the totals of the debits and the totals of the credit of each account are listed. Procedure in Trial Balance Preparation o Write the heading of the trial balance. It includes the following. a. The name of the business or the owner b. Title of the list or Trial Balance c. Date of the Trial Balance o Provide a column for the accounts and two mone ...
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